The underwriters have been landed with a fair few of these at 0.002c. I expect they will be able to get out at a profit shortly.
Whether you believe that a rise is engineered, or simply that the underwriter has determined that the underwritten price is below fair value (and is not slow to let people know this), it still happens alot.
I have bought some MPJOA (at 0.001c) purely on the above and will be happy to take my 100% profit at 0.002c, hopefully before too long.
Yesterday 28m MPJOA were quickly snapped up at 0.001c and today I notice a large bidder has appeared at 0.001c. Also the bidders at 0.002c are building for MPJ.
Would be interested to hear others thoughts.
cosmos
expect movement
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